Response from Eastmain Ressource I email them and they tell me :
The transaction was valued at $0.42 of an Eastmain share, note this is the first financing of a leading gold development company in Canada. Note that while the hard dollar portion is valued at $2.00, the flow through shares at $3.50, which using your same math would give us a valuation of $0.41
(((Can you explain me this? Announce a buyout deal at 0.42 then make a financing at 0.234 (0.117 x 2.00$))))